Exploration for materials used in electric car batteries in Saudi Arabia

Exploration for materials used in electric car batteries in Saudi Arabia
Exploration for materials used in electric car batteries in Saudi Arabia

Australian company invests $3 billion in mineral exploration

An Australian company plans to invest $3 billion in Saudi Arabia in a bet on metals used in electric car batteries, and the company’s spending will be to build plants to process metals including lithium and nickel, and then expand to explore battery metals.

This will be one of the first major deals since Saudi Arabia passed a law to attract investment in mining as it looks to diversify its economy.

“We have the knowledge, technology, and technical capabilities that we provide to the Kingdom to explore for these minerals,” Michael Naylor, managing director and CEO of EV Metals Group Plc, told Bloomberg. Noting that they are optimistic that they will find significant deposits of materials used in Electric car batteries in Saudi Arabia.

Naylor indicated that the processing facilities will be developed over the next nine years, and that the company also has more than 15 applications for exploration licenses in the Kingdom, and is looking for deposits of lithium, nickel and cobalt, adding that the company is developing a chemical processing facility for batteries. ; With the aim of providing a potential group to manufacture cars in the Kingdom.

Saudi Arabia is a major producer of aluminum and is expanding in gold production. It also has more than $1 trillion in untapped minerals and is looking to attract foreign investors.

Exploration for materials used in electric car batteries in Saudi Arabia

Khaled Ali
previously
2021-10-12

An Australian company plans to invest $3 billion in Saudi Arabia in a bet on metals used in electric car batteries, and the company’s spending will be to build plants to process metals including lithium and nickel, and then expand to explore battery metals.

This will be one of the first major deals since Saudi Arabia passed a law to attract investment in mining as it looks to diversify its economy.

“We have the knowledge, technology, and technical capabilities that we provide to the Kingdom to explore for these minerals,” Michael Naylor, managing director and CEO of EV Metals Group Plc, told Bloomberg. Noting that they are optimistic that they will find significant deposits of materials used in Electric car batteries in Saudi Arabia.

Naylor indicated that the processing facilities will be developed over the next nine years, and that the company also has more than 15 applications for exploration licenses in the Kingdom, and is looking for deposits of lithium, nickel and cobalt, adding that the company is developing a chemical processing facility for batteries. ; With the aim of providing a potential group to manufacture cars in the Kingdom.

Saudi Arabia is a major producer of aluminum and is expanding in gold production. It also has more than $1 trillion in untapped minerals and is looking to attract foreign investors.

October 12, 2021 – Rabi` Al-Awwal 6, 1443

10:52 PM


Australian company invests $3 billion in mineral exploration

An Australian company plans to invest $3 billion in Saudi Arabia in a bet on metals used in electric car batteries, and the company’s spending will be to build plants to process metals including lithium and nickel, and then expand to explore battery metals.

This will be one of the first major deals since Saudi Arabia passed a law to attract investment in mining as it looks to diversify its economy.

“We have the knowledge, technology, and technical capabilities that we provide to the Kingdom to explore for these minerals,” Michael Naylor, managing director and CEO of EV Metals Group Plc, told Bloomberg. Noting that they are optimistic that they will find significant deposits of materials used in Electric car batteries in Saudi Arabia.

Naylor indicated that the processing facilities will be developed over the next nine years, and that the company also has more than 15 applications for exploration licenses in the Kingdom, and is looking for deposits of lithium, nickel and cobalt, adding that the company is developing a chemical processing facility for batteries. ; With the aim of providing a potential group to manufacture cars in the Kingdom.

Saudi Arabia is a major producer of aluminum and is expanding in gold production. It also has more than $1 trillion in untapped minerals and is looking to attract foreign investors.

Source

Exploration materials electric car batteries Saudi Arabia

 
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